70 


r    F 
^    814 

N     A7 
O 

Z 
> 

> 
z 
> 


o 


BANCROFT 
LIBRARY 


THE  LIBRARY 

OF 

THE  UNIVERSITY 

OF  CALIFORNIA 


jitized  by  the  Internet  Archive 
in  2007  with  funding  from 
Microsoft  Corporation 


tp://www.archive.org/details/financialstatemeOOarizrich 


>•//     T^^i" 


FEBRUilRY    1st,    IBBB. 


FIMAMCIA^    STATEMEKT 


OF^ 


7 


Fs.  Carparatian  arganized  and  existing  under  and  by  virtue 
of  the  laTA/s   nf  the  Territory  nf  Arizona, 


IflCOf^POt^flTED,      DEC.      22,      1882. 


Capital   stock,    1,000    Shares,    of   the   par 
value    $500    each,    $500,000. 


Principal    Office:  PHOENIX,    A.    T. 


Property   located   in    the   Salt   River    Valley^ 
Maricoini    County^   A  rizona. 


DFFICERS. 

President,         -         -  W.   J.   Murphy,  Phoenix,  A.  T. 

Secretary,  -  -  W.   D.    Fulwiler,  Phoenix,  A.   T. 

Treasurer,         -         -  The  Yalley  Bank,   Phoenix,  A.  T. 

DIRECTDRS. 

Andrew  Crawford,  Oljicago,  111. 
J.  De  Earth  Shore,  San  Gabriel,  Oa!. 
Wm.   Chhisty,  Phoenix,   A.  T. 
Clark  Churchill,   Phoenix,  A.  T. 
W.   J.   Murphy,  Phoenix,  A.  T. 

FURPDSES    DF  THE    GDMFANY, 

To  secure  title  to  water,  to  construct  and  operate  canals, 
for  the  purpose  of  furnishing  water  for  irrigation,  water  power 
and  city  sui)ply.  To  secure  and  sell  land  for  town  sites  and 
mill  sites  and  otln-r  purposes. 

The  Arizona  Canal  is  a  fine  specimen  of  engineering  skill 
and  very  substantially  constructed.  !t  furnishes  water  to  irri- 
gate 96,000  acres  of  land,  besides  city  supply  and  an  extensive 
water  power. 

The  soil  irrigated  by  it  is  of  the  finest  quality  for  fruit- 
groA'ing.  It  [)roduces  the  olive,  fig,  pomegranate,  raisin,  orange, 
lemon  and  other  tropical  fruits,  equal  to  the  most  favored  local- 
ities of  Spain. 

The  climate  of  the  Salt  River  Valley  is  semi-tropical,  and 
as  bright,  beautiful  and  healthy  as  sunny  Italy  itself. 


ASSETS. 

Franchise  Lo  50,000  miner's  inclies  of  water  in  Salt  Rivtr-r, 
secured  by  location  under  the  general  laws  of  the  United 
States,  in   eonfonnity  with  the  laws  of  Arizona. 

Right  of  way  secured  from  the  General  Government, 
under  law  of  Congress. 

Town  sites  and  mill  sites  and  water  power,  equal  to  1,500 
horse-power. 

Main  Canal.  40|  miles  long,  maximum  width,  57  ft.,  and 
carrying  depth  7^  ft.;  capacity,  40,000  miner's  inches.  Con- 
struction commenced  in  1883,  and  fully  completed  in  1887, 
at  a  cost  of  8603,013  96. 

Estimated   Value  of    Assets $2,000,000  00 


E&TiMATED  Income  : 

From  Sales  of  water  rights,  mill  sites,  etc $1,250,000  00 

From    Rentals   of  water    and    water  [)ower,  per 

annum 175,000  00 


Market  value  of  a  water  right,  Feb.  1st,  1886  .  .  .$         500  00 
Market  value  of  a  water  right,  Feb.  1st,  1888.  .  .  1,000  00 


Bonds  cancelled  since  Feb.  1st,  188b. .    $    100,000  00 

The  proceeds  of  sales  of  water  rights  go  to  form  a  Sinking 
Fund,  for  the  payment  of  the  principal  and  interest  of  the 
Bonds. 

The  Merchants  Loan  and  Trust  Co.,  of  Chicago,  Illinois, 
is  the  Trustee  for  the  bond-holders. 


IMMEDIATE  RESOURCES. 

In  addition  to  income  from  rental  of  water  for  irrigation  and 
water  power. 

715i  water  rights,  market  value,  $l,()uO $715,500  CO 

Bills  Receivable 3,342  50 

Accounts  Receivable 37,338  25 

Cash  in  Treasurv •  13,61 1   49 


Total $769,792  24 


TOTSL  LISBILITIES. 

Bonds  due  Jan.  Isi,  1900 $400,000  00 

Interest  on  above,  not  due 2,666   66 

Bills  Payable,  not  due 47,400  00 

Interest  on  above,  nut  due 988   67 

Accounts  Payable 10,380  88 


Total $461,436   21 


INCOME  AND  EXPENDITURES. 

For  the  Last  Fiscal  Year. 
INCO^/IK  from  all  sources $112,698  43 

EXF*ENDITURES: 

Interest  on  Bonds $32,000  GO 

Interest  on  Bills  Payable 4,000  00 

Accounts  and  Bills  Payable 20,579  84 

Permanent  Improvements.  , 23,933  32 

Current  Expenses 18,573  78 

99,086  94 


Cash  on  hand $   13,611    49 


W.  J.  MURPHY,  President. 

THE  VALLEY  BANK,  Tkeas., 

By  Wm.  Christy,  Cashier. 


yJ^.:!  >^^'^^ 


,-(7,  -s  '4  -^    •     '  •      'i  • 


